U.S. Dollar Rises Against Majors

The U.S. dollar strengthened against other major currencies in the European session on Wednesday.

The U.S. dollar rose to more than a 4-month high of 1.0703 against the euro and more than a 3-month high of 0.8754 against the Swiss franc, from early lows of 1.0934 and 0.8620, respectively.

Against the pound and the yen, greenback advanced to a 6-day high of 1.2846 and more a than 3-month high of 154.38 from an early 2-week lows of 1.3044 and 151.29, respectively.

Against the Australia and the New Zealand dollars, the greenback climbed to nearly a 3-month high of 0.6512 and a 3-month high of 0.5912 from early 2-week lows of 0.6642 and 0.6021, respectively.

The greenback rose to a 2-day high of 1.3939 against the Canadian dollar, from an early low of 1.3832.

If the greenback extends its uptrend, it is likely to find resistance around 1.06 against the euro, 0.89 against the franc, 1.26 against the pound, 156.00 against the yen, 0.63 against the aussie, 0.58 against the kiwi and 1.40 against the loonie.